Henrique de Castrohttp://www.businessinsider.com/category/henrique-de-castro
en-usFri, 09 Dec 2016 21:11:41 -0500Fri, 09 Dec 2016 21:11:41 -0500The latest news on Henrique de Castro from Business Insiderhttp://static3.businessinsider.com/assets/images/bilogo-250x36-wide-rev.pngBusiness Insiderhttp://www.businessinsider.com
http://www.businessinsider.com/yahoo-promotes-lisa-utzscheider-to-cro-2015-7Yahoo has finally found a replacement for the sales boss Marissa Mayer fired in January last year (YHOO)http://www.businessinsider.com/yahoo-promotes-lisa-utzscheider-to-cro-2015-7
Thu, 23 Jul 2015 12:42:46 -0400Ronan Shields
<p><img style="float:right;" src="http://static4.businessinsider.com/image/544f80a269bedd7c7fb3adc5-1442-1080/lisa-utzschneider.png" alt="Lisa Utzschneider" data-mce-source="Screenshot, Ad Age Video" data-link="http://bcove.me/cdg0p1hy" /></p><p>Yahoo has promoted Lisa Utzschneider as its first chief revenue officer to head up ad sales at the online web giant, a role that had effectively been vacant for over a year since the departure of its ex-COO Henrique De Castro, as its seeks to push its &lsquo;MaVeNs&rsquo; ad units to advertisers.</p>
<p>The announcement was made today (23 July) by Yahoo chief executive Marissa Mayer, who said that all global sales staff will report to Utzschneider, who joined from Amazon late last year to head up Yahoo&rsquo;s sales operations North America and LATAM at the back end of last year.</p>
<p>She added: &ldquo;Lisa has been pivotal in structuring the sales teams across North and South America for growth. She has successfully integrated sales across Yahoo, BrightRoll, Flurry and Tumblr to help bring new opportunities and tremendous value to advertisers.</p>
<p>&ldquo;As we continue to build a truly global advertising business that is positioned for long-term growth, Lisa&rsquo;s strong leadership and industry knowledge will help us accelerate towards those goals.&rdquo;</p>
<p>Yahoo has effectively been without an employee solely charged with leading its global sales efforts since it dismissed then COO de Castro - who defected from Google similar to Mayer &ndash; after his strategy was failing to meet earlier targets.</p>
<p>The move comes the same week as <a href="http://www.thedrum.com/news/2015/07/22/how-yahoo-s-mixed-results-are-indicative-wider-issues">Yahoo announced its latest quarterly results</a>, with market observers adjudging them to be "mixed," after it reported a 15 per cent annual increase in revenues ($1.2bn), but soaring traffic acquisition costs meant it operated at a $22m loss during the period.</p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/former-yahoo-ceo-ross-levinsohn-on-the-microsoftaol-deal-2015-6" >Former Yahoo CEO Ross Levinsohn wanted to strike the Microsoft deal that AOL just pulled off</a></strong></p>
<p><a href="http://www.businessinsider.com/yahoo-promotes-lisa-utzscheider-to-cro-2015-7#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="http://www.businessinsider.com/hearthstone-expansion-2015-7">One of the world's most popular games is getting a huge addition</a></p> http://www.businessinsider.com/ex-yahoo-coo-henrique-de-castro-i-was-fired-and-thats-ok-2014-12Yahoo's $60 Million Ex-COO, Henrique De Castro, Speaks! 'I Was Fired, And That's Ok' (YHOO)http://www.businessinsider.com/ex-yahoo-coo-henrique-de-castro-i-was-fired-and-thats-ok-2014-12
Wed, 10 Dec 2014 12:49:00 -0500Sam Colt
<p><img style="float:right;" src="http://static2.businessinsider.com/image/5488819b69bedd906f8b456e-480-/henrique-de-castro-yahoo.jpg" border="0" alt="Henrique De Castro Yahoo" width="480"></p><p></p>
<p>Former Yahoo COO Henrique de Castro has spoken out for the first time about being fired last year.</p>
<p>"I was fired and that's OK," de Castro <a href="https://www.linkedin.com/pulse/yahoos-ex-coo-i-fired-thats-ok-isabelle">told LinkedIn's Isabelle Roughol</a>. "<span style="line-height: 1.5em; font-size: 1em;">Being fired is part of your career options."</span></p>
<p><span style="line-height: 1.5em; font-size: 1em;">De Castro was fired by Marissa Mayer in fall 2013 <a href="http://www.businessinsider.com/report-marissa-mayer-is-on-the-outs-with-coo-henrique-de-castro-2013-9">for failing to meet Mayer's ad sales goals</a>.</span></p>
<p><span style="line-height: 1.5em; font-size: 1em;">De Castro was Mayer's first major hire as CEO. He was tasked with repairing Yahoo's relationship with ad agencies.</span></p>
<p><span style="line-height: 1.5em; font-size: 1em;"><span>"To be the COO of a non-growing business is a difficult position," de Castro said. "With hindsight, I don't think a COO was needed."</span></span></p>
<p><span style="line-height: 1.5em; font-size: 1em;"><span>As COO, De Castro was one of the highest-paid executives in tech. &nbsp;</span></span><span style="font-size: 1em; line-height: 1.5em;">He made </span><a href="http://www.businessinsider.com/heres-what-yahoos-marissa-mayer-earned-last-year-2014-4">over $50 million</a><span style="font-size: 1em; line-height: 1.5em;"> during his roughly 15 months at Yahoo.</span></p>
<p><span style="line-height: 1.5em; font-size: 1em;">On top of that, De Castro <a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-severance-pay-2014-4">got a $58 million severance package</a>.</span></p>
<p><span style="line-height: 1.5em; font-size: 1em;">Despite the falling out between Mayer and De Castro, the former COO is bullish about Yahoo's future.</span></p>
<p><span style="line-height: 1.5em; font-size: 1em;"><span>"Search, mobile, video and media are not today what they'll be in the future," he said. "Marissa and the rest of the managing team have done a great job positioning the company to capture these future trends."</span></span></p>
<p><span style="line-height: 1.5em; font-size: 1em;">The only question De Castro wonders about: "<span>will they catch the trends on time?"</span></span></p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/heres-what-yahoos-marissa-mayer-earned-last-year-2014-4" >Here's What Yahoo's Marissa Mayer Earned Last Year</a></strong></p>
<p><a href="http://www.businessinsider.com/ex-yahoo-coo-henrique-de-castro-i-was-fired-and-thats-ok-2014-12#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/ex-yahoo-coo-de-castro-wants-a-job-2014-10The Yahoo COO Who Made $100 Million For One Year Of Work Is Looking For A New Job (YHOO)http://www.businessinsider.com/ex-yahoo-coo-de-castro-wants-a-job-2014-10
Tue, 14 Oct 2014 11:32:00 -0400Nicholas Carlson
<p><img src="http://static4.businessinsider.com/image/52d832016bb3f7ca61810fd6-1200-924/henrique-de-castro-1.jpg" border="0" alt="henrique de castro"></p><p></p>
<p>He's ba-aaaaaaaaaaaaack! </p>
<p>Or at least, he'd like to be.</p>
<p>In October 2012, Yahoo CEO Marissa Mayer made her first big hire.</p>
<p>Google advertising executive Henrique De Castro would be Yahoo's COO.</p>
<p>Mayer paid up to get De Castro. <a href="http://www.businessinsider.com/henrique-de-castro-compensation-2012-10">Initial reports pegged his salary at $62 million.</a></p>
<p>At the time, we wondered if Mayer had made a huge mistake. Many of De Castro's <a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-2012-10">former colleagues told us</a> that he was a smart, analytical executive who would struggle to connect with ad agency types. They said he liked to make awkward jokes, and that he would find it difficult running a large organization.</p>
<p>De Castro did not last long at Yahoo. By January 2014, he was out. In a public announcement, Mayer made it clear the separation was her call. </p>
<p>Reports suggested <a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-severance-pay-2014-4">his total compensation for a year's worth of work would be $100 million.</a></p>
<p>You might think that De Castro would take his nest egg, buy a chunk of Hawaii, and never be seen by the technology industry again.</p>
<p>You would think wrong.</p>
<p>We've heard from several industry sources that De Castro is currently on the hunt for a job. </p>
<p>He's met with a couple high profile venture capital firms, telling partners that he would love to join the board of a startup, or even become a mere advisor. </p>
<p>Those kinds of gigs are usually unpaid.</p>
<p>We've also heard that De Castro is speaking with startups directly about fulltime positions, including another chief operating officer job.</p>
<p>Sources say De Castro is very eager to improve his repution.</p>
<p>A source who met with him a few months ago tells us that De Castro is very sensitive about the impression that he was wildly overcompensated.</p>
<p>The source made a joke about it, and De Castro snapped at him.</p>
<p>De Castro will apparently tell anyone who listens that the only reason he got paid so much by Yahoo was to make up for money he was leaving behind at Google.</p>
<p>These days, De Castro is telling VC firms that he knows his reputation is in tatters and that he's ready to do the work needed to repair it.</p>
<p><span style="font-size: 15px; line-height: 1.5em;">De Castro did not respond to requests for comment on this story.</span></p>
<p><em>Nicholas Carlson is the author of </em><a href="http://www.amazon.com/Marissa-Mayer-Fight-Save-Yahoo/dp/1455556610">Marissa Mayer and the Fight to Save Yahoo!</a>,<em> on sale January 6.</em></p>
<h3>
<em><br></em><strong>NOW WATCH: <a href="http://www.businessinsider.com/marissa-mayer-highschool-activities-2014-1">11 Little Known Facts About Marissa Mayer Before She Became A Tech Rockstar</a></strong>
</h3>
<div><div>
<script src="//player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script><div id="ooyalaplayer" style="width:1920px;height:1080px"></div>
<script>OO.ready(function() { OO.Player.create('ooyalaplayer', 'V3dDV4ZDp5cqJmt7GTBpEwD5AwfWzJWS'); });</script><noscript><div>Please enable Javascript to watch this video</div></noscript>
</div></div>
<p class="embed-spacer"></p><p><a href="http://www.businessinsider.com/ex-yahoo-coo-de-castro-wants-a-job-2014-10#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/marissa-mayer-on-henrique-de-castro-2014-5Marissa Mayer Says Hiring Henrique De Castro Then Firing Him With A $58 Million Payout Was 'Regrettable' (YHOO)http://www.businessinsider.com/marissa-mayer-on-henrique-de-castro-2014-5
Wed, 07 May 2014 14:49:00 -0400Alyson Shontell
<p><img style="float:right;" src="http://static1.businessinsider.com/image/536a7e8a6da811772ab11604-551-413/henrique-de-castro-yahoo-coo-7.jpg" border="0" alt="henrique de castro yahoo coo" /></p><p>One of the first moves Marissa Mayer made as CEO of Yahoo was to make her Google colleague, Henrique De Castro, COO.</p>
<p>He was paid a ton of money <a href="http://techcrunch.com/2014/04/16/fired-yahoo-coo-henrique-de-castros-severance-totaled-58m/">then fired </a>after just 15 months on the job. He <a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-severance-pay-2014-4">got a $58 million severance package when he left</a>.</p>
<p>TechCrunch founder asked Mayer if De Castro was her "biggest mistake."</p>
<p>Mayer gave an indirect answer but noted that he was "regrettable."</p>
<p>"<span>I think Henrique was not a fit," said Mayer. "It was regrettable. I</span><span style="font-size: 15px; line-height: 1.5em;">&nbsp;will say I have huge respect for him</span><span style="font-size: 15px; line-height: 1.5em;">. He&rsquo;s incredibly smart and incredibly talented but I do think that overall it was the right time for us to go our separate ways. We really wish him well."</span></p>
<p><span style="font-size: 15px; line-height: 1.5em;"><span>Arrington replied,&nbsp;</span>"I think he's doing quite well."</span></p><p><a href="http://www.businessinsider.com/marissa-mayer-on-henrique-de-castro-2014-5#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/henrique-de-castros-compensation-2014-1Here's The Math That Shows How Henrique De Castro Walks Away From Yahoo With $109 Million (YHOO)http://www.businessinsider.com/henrique-de-castros-compensation-2014-1
Thu, 16 Jan 2014 14:32:00 -0500Jay Yarow
<p><img style="float:right;" src="http://static4.businessinsider.com/image/52d832016bb3f7ca61810fd6-1200-924/henrique-de-castro-1.jpg" border="0" alt="henrique de castro" /></p><p>Henrique De Castro is walking away from Yahoo with even more money <a href="http://www.businessinsider.com/yahoo-coo-enrique-de-castro-has-stock-bonus-pay-package-2014-1">than we initially realized</a>.</p>
<p>Executive compensation firm Equilar estimates he's getting $109 million <a href="http://www.businessinsider.com/why-marissa-mayer-hired-henrique-de-castro-2014-1">now that he's been fired by Marissa Mayer</a>.&nbsp;</p>
<p>That's a lot of money for just 15 months of work. That's more than most people get for building and selling a startup. That's more money than the highest-paid athlete in the world, Tiger Woods, made last year. <a href="http://www.businessinsider.com/tiger-woods-earnings-in-2013-2014-1">Woods got $83 million</a>.</p>
<p>How is he getting so much money? Equilar broke it down for us:<span style="line-height: 1.5em;">&nbsp;</span></p>
<p style="padding-left: 30px;"><strong>While working at Yahoo he received the following:</strong></p>
<ul style="padding-left: 30px;">
<li style="padding-left: 30px;"><span style="line-height: 1.5em;">Salary of $684,092.</span></li>
<li style="padding-left: 30px;"><span style="line-height: 1.5em;">Bonus of $640,000 (includes estimated target bonus payout for 2013 of $540,000).</span></li>
<li style="padding-left: 30px;"><span style="line-height: 1.5em;">Make-Whole bonus of $1,000,000.</span></li>
<li style="padding-left: 30px;"><span style="line-height: 1.5em;">Value of vested portion of performance option award: $20,973,716.</span></li>
<li style="padding-left: 30px;"><span style="line-height: 1.5em;">Value of vested portion of initial RSU award: $10,610,293.</span></li>
<li style="padding-left: 30px;"><span style="line-height: 1.5em;">Value of vested portion of make-whole RSU award: $10,882,349.</span></li>
</ul>
<p style="padding-left: 30px;"><strong>Total Value Earned: $44,790,450</strong></p>
<p style="padding-left: 30px;">Upon his termination, a portion of each of his equity award vested as well (all values using yesterday&rsquo;s closing stock price of $41.07):</p>
<ul style="padding-left: 30px;">
<li style="padding-left: 30px;"><span style="line-height: 1.5em;">Severance payments (1x salary and target bonus): $1,140,000.</span></li>
<li style="padding-left: 30px;"><span style="line-height: 1.5em;">Value of accelerated performance option award: $20,973,716.</span></li>
<li style="padding-left: 30px;"><span style="line-height: 1.5em;">Value of accelerated initial RSU award: $9,794,117.</span></li>
<li style="padding-left: 30px;"><span style="line-height: 1.5em;">Value of accelerated make-whole RSU award: $32,647,046.</span></li>
</ul>
<p style="padding-left: 30px;"><strong><span style="line-height: 1.5em;">Total accelerated equity value: $64,554,879</span></strong></p>
<p style="padding-left: 30px;"><strong>Grand Total of both amounts: $109,345,330</strong></p>
<p>Equilar's director of Governance Research, Aaron Boyd tells us this based on the assumption De Castro was fired without cause. Boyd thinks it's a "safe bet" that he was fired without cause based on the language Mayer used in her memo announcing his ouster.</p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/why-marissa-mayer-hired-henrique-de-castro-2014-1" >Why Marissa Mayer Even Hired Henrique De Castro In The First Place</a></strong></p>
<p><a href="http://www.businessinsider.com/henrique-de-castros-compensation-2014-1#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/why-marissa-mayer-hired-henrique-de-castro-2014-1MARISSA MAYER'S $109 MILLION MISTAKE: Why She Hired COO Henrique De Castro In The First Place (YHOO)http://www.businessinsider.com/why-marissa-mayer-hired-henrique-de-castro-2014-1
Thu, 16 Jan 2014 12:29:00 -0500Jay Yarow
<p><img style="float:right;" src="http://static3.businessinsider.com/image/52d41b1c69bedd8837bd2f20-1200-2000/marissa-mayer-2-1.jpg" border="0" alt="marissa mayer 2" /></p><p>Marissa Mayer just had her first major mistake as Yahoo CEO.</p>
<p>She was <a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-is-out-2014-1">forced to oust Henrique De Castro</a>, her hand-picked, and highly compensated COO after just 15 months on the job.</p>
<p>From the moment De Castro was hired, <a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-2012-10">people warned that he was a big mistake for Yahoo</a>.</p>
<p>Yet, Mayer plowed ahead, hiring De Castro, likely because when she started at Yahoo she had a blind spot for how the ad industry really works. After almost two years on the job, she now understands the industry better and is trying to correct her mistake.</p>
<p>When Mayer hired De Castro, one source told us, "[Henrique] is very smart, but he has a difficult personality; both his teams and his clients dislike him ... He has no experience whatsoever running any kind of a real ad salesforce, let alone a 1,000+ team selling experiential media into brand buyers."</p>
<p>This source wasn't an outlier. De Castro had plenty of enemies.</p>
<p>He has <a href="https://twitter.com/HdCYouKnowMe">his own parody Twitter</a> account that tweets some of the outlandish things he's said, such as, "To the CEO of major UK TV broadcaster: 'This deal is like sex with a Russian prostitute. Veeeerry tempting.... but no.'"</p>
<p>At Google, De Castro oversaw the successful creation of its display ad business, but Yahoo's ad business is different from Google's ad business. De Castro was running systems that served/targeted/optimized/ display ads for Google. That sort of advertising is radically different from a takeover display ad that runs on Yahoo's front page.</p>
<p>Mayer was on the product/engineering side of Google, but not in the advertising part of product/engineering. She didn't have to think about advertising. And since ad dollars flowed into Google, she probably thought she could just pluck any Google ad guy out of a lineup and plug him into Yahoo.</p>
<p>To people like Mayer who didn't pay attention to the ad business, an ad is an ad is an ad. But there are important, nuanced differences.</p>
<p>Despite many warnings that De Castro was bad fit for Yahoo, Mayer still poached him with a giant payday. Executive compensation firm Equilar <a href="http://www.businessinsider.com/henrique-de-castros-compensation-2014-1">estimates De Castro will collect $109 million from his time at Yahoo</a>.</p>
<p>His time at Yahoo yielded little in the way of results, as far as we can tell. Yahoo's ad business remained stagnant, and De Castro was clashing with Mayer and her top executives.</p>
<p>Kara Swisher <a href="http://recode.net/2014/01/15/henrique-de-castro-out-at-yahoo/">at Re/Code reported</a>, "In recent months, according to numerous sources, he and Mayer had developed a tense relationship that many in meetings with the pair found it hard not to notice."</p>
<p>De Castro was a no-show at CES, the big tech industry trade show where Yahoo had a massive keynote with all sorts of executives. That was a warning sign that De Castro was not long for Yahoo.</p>
<p>Now, he's gone. In a note to employees, Mayer <a href="http://www.businessinsider.com/after-only-15-months-marissa-mayer-fired-her-first-major-hire-2014-1">didn't try to soften the news</a>. She said, "During my own reflection, I made the difficult decision that our COO, Henrique de Castro, should leave the company."</p>
<p>While this is a high-profile mistake for Mayer, there's some reason for optimism.</p>
<p>First, the stock is only down 2% this morning. By firing De Castro, Mayer telegraphed that the ad business is not doing well. And still, investors don't care, because Yahoo remains (for the most part) a tracking company for Chinese Internet giant Alibaba. In other words, Mayer has time to find her footing.</p>
<p>Second, she made her decision relatively quickly. De Castro was only at Yahoo for 15 months. She didn't let his tenure drag on just to save face. She cut him before it got too ugly.</p>
<p>Moving on from De Castro is good, but there's already murmurs in the ad industry that she still hasn't solved the problem.</p>
<p>It looks like former AOL ad executive Ned Brody is going to take over for De Castro. We're hearing that he too was a "systems" guy at AOL. Mayer still needs to find a true sales person who understands the media business.</p><p><strong>NOW:&nbsp;<a href="http://www.businessinsider.com/henrique-de-castros-compensation-2014-1" >Here's The Math That Shows How Henrique De Castro Walks Away From Yahoo With $109 Million</a></strong></p>
<p><a href="http://www.businessinsider.com/why-marissa-mayer-hired-henrique-de-castro-2014-1#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/de-castro--2014-1The Only Video You Need To See To Understand Why Marissa Mayer Fired Her COO (YHOO)http://www.businessinsider.com/de-castro--2014-1
Thu, 16 Jan 2014 08:43:00 -0500Jay Yarow
<p>Yesterday, Yahoo announced that <a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-is-out-2014-1#">COO Henrique de Castro was leaving the company</a>.&nbsp;</p>
<p>CEO Marissa Mayer <a href="http://www.businessinsider.com/after-only-15-months-marissa-mayer-fired-her-first-major-hire-2014-1">made it clear in an internal memo she was firing de Castro</a>, writing, "I made the difficult decision that our COO, Henrique de Castro, should leave the company."</p>
<p>De Castro was Mayer's first big hire. She thought he was responsible for the growth of Google's display business, and wanted him to rebuild the display ad business for Yahoo. She gave him a big, $60 million pay day. He earned more last year than Mayer.&nbsp;</p>
<p>After less than a year on the job though, <a href="http://recode.net/2014/01/15/henrique-de-castro-out-at-yahoo/">Mayer and De Castro were reportedly at odds</a>. De Castro was reportedly grating on other Yahoo executives, too.</p>
<p>The even bigger problem is that de Castro was reportedly struggling to turn Yahoo's ad business around. At Google, he was partly responsible for the rise of the display ad business, but as a source told us when he was hired, Google had YouTube, DoubleClick, and a formidable staff of product managers and engineers.</p>
<p>After news broke that de Castro was out, an industry executive and a former Googler sent us the following video of de Castro presenting at last year's IAB Leadership Conference. <span>IAB is the trade group that represents online advertising.&nbsp;</span></p>
<p>Our source said the video, "says it ALL."&nbsp;<span style="line-height: 1.5em;">His presentation, which was in February of last year, has de Castro sort of spinning his wheels as he tries to lay out his vision for Yahoo. Our source said, "It's a disaster. The worst executive presentation of all time in my opinion, and not just because of the language barrier. People joke about how terrible it is."</span></p>
<p>This was early in his tenure at Yahoo, but it set the stage for de Castro's struggles to come.</p>
<p><object width="620" height="349"><param name="movie" value="//www.youtube.com/v/qymAxVYABnc?hl=en_US&amp;version=3" /><param name="allowFullScreen" value="true" /><param name="allowscriptaccess" value="always" /><embed src="//www.youtube.com/v/qymAxVYABnc?hl=en_US&amp;version=3" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="620" height="349" /></object></p><p><a href="http://www.businessinsider.com/de-castro--2014-1#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/yahoo-coo-enrique-de-castro-has-stock-bonus-pay-package-2014-1Yahoo's COO Walks Out With $20 Million Stock Bonus (Plus $40 Million For Just 15 Months' Work)http://www.businessinsider.com/yahoo-coo-enrique-de-castro-has-stock-bonus-pay-package-2014-1
Wed, 15 Jan 2014 16:54:00 -0500Jim Edwards
<p><img style="float:right;" src="http://static4.businessinsider.com/image/52d702c46da811843f99f74d-480-/henrique-de-castro-yahoo-coo-4.jpg" border="0" alt="henrique de castro yahoo coo" width="480" /></p><p>Henrique de Castro will receive a $20 million restricted stock bonus after working at Yahoo as its COO for a little more than a year.</p>
<p>That comes on top of $39.2 million he earned in 2012, in cash and stock after he first joined the company, <a href="http://www.sec.gov/Archives/edgar/data/1011006/000119312513187918/d501548ddef14a.htm">according to a filing with the SEC</a>.</p>
<p>When de Castro left Google to join Yahoo in October 2012, he negotiated <a href="http://www.businessinsider.com/how-yahoos-new-coo-got-his-62-million-pay-package-in-7-simple-steps-2012-10">a pay package worth $62 million</a> over four years, with $36 million of that coming in stock awards over three years.</p>
<p>Now that he is leaving, he is entitled to "<a href="http://www.sec.gov/Archives/edgar/data/1011006/000119312514012092/d659121d8k.htm">the severance benefits provided for in his Employment Offer Letter</a>," Yahoo says. Those benefits, <a href="http://www.sec.gov/Archives/edgar/data/1011006/000119312512423560/d424127dex101.htm">according to the letter</a>, include:</p>
<ul>
<li><strong>All his existing stock vests at once:</strong> "... the RSUs that would have vested within 12 months after such termination shall immediately vest, and the Stock Options that would have vested in the 12 months following termination of employment if the applicable performance criteria were satisfied, shall remain subject to satisfaction of the performance criteria and, if such criteria are satisfied, vest as if you were employed on such vesting date."</li>
<li><strong>Plus $20 million in stock:</strong> "You will be granted an additional award of restricted stock units with a target valuation of $20,000,000 (&ldquo;Make-Whole RSUs&rdquo;)."</li>
</ul>
<p>De Castro worked for Yahoo for exactly 15 months.</p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-is-out-2014-1" >Yahoo COO Henrique de Castro Is Out</a></strong></p>
<p><a href="http://www.businessinsider.com/yahoo-coo-enrique-de-castro-has-stock-bonus-pay-package-2014-1#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/yahoo-coo-henrique-de-castro-is-out-2014-1Marissa Mayer's First Major Hire Yahoo COO Henrique De Castro Is Out (YHOO)http://www.businessinsider.com/yahoo-coo-henrique-de-castro-is-out-2014-1
Wed, 15 Jan 2014 16:34:00 -0500Jay Yarow
<p><img style="float:right;" src="http://static2.businessinsider.com/image/52d700f96bb3f70c5c99f741-712-534/henrique-de-castro-yahoo-coo-1.jpg" border="0" alt="henrique de castro yahoo coo" /></p><p>Yahoo COO Henrique De Castro is leaving Yahoo, effective Jan. 16, <a href="http://www.sec.gov/Archives/edgar/data/1011006/000119312514012092/d659121d8k.htm">according to Yahoo</a>.</p>
<p>De Castro was the first major hire by Yahoo CEO Marissa Mayer. She fired him, <a href="http://www.businessinsider.com/after-only-15-months-marissa-mayer-fired-her-first-major-hire-2014-1">according to this memo obtained by Re/code</a>.</p>
<p>He was lured to Yahoo from Google <a href="http://www.businessinsider.com/how-yahoos-new-coo-got-his-62-million-pay-package-in-7-simple-steps-2012-10">with a four-year $62 million pay package</a>.&nbsp;<span style="line-height: 1.5em;">He was at </span><span style="line-height: 1.5em;"></span><a href="http://www.businessinsider.com/yahoo-sales-2012-10">Yahoo for only a little over a year</a>, but it <a href="http://t.co/LCub9Dy9wM">looks like he's still going to collect ~$60 million</a>.<span style="line-height: 1.5em;"><br /></span></p>
<p><span style="line-height: 1.5em;">His job at Yahoo was to fix the company's relationship with big agencies to get Yahoo's ad business cranking again. Mayer hired De Castro because she believed he was responsible for building Google's display ad business from nothing to doing billions of dollars in revenue. She also thought he got brands advertising on YouTube.</span></p>
<p><span style="line-height: 1.5em;">From the moment he was hired, </span><a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-2012-10">skeptics warned that he wasn't going to work out</a><span style="line-height: 1.5em;">.&nbsp;</span></p>
<p><span style="line-height: 1.5em;">One person told us at the time De Castro did oversee the growth of display advertising at Google, but, "</span><span style="line-height: 1.5em;">It helps that Google bought some great companies like&nbsp;</span><a href="http://www.businessinsider.com/blackboard/doubleclick-1" class="hidden_link">DoubleClick</a>&nbsp;<span style="line-height: 1.5em;">and YouTube and has amazingly talented product and engineering leadership to create a moat."</span></p>
<p>An ex-senior Googler also told us: "[Henrique]&nbsp;is very smart, but he has a difficult personality; both his teams and his clients dislike him."</p>
<p><span>Our source added, "He has no experience whatsoever running any kind of a real ad salesforce, let alone a 1,000+ team selling experiential media into brand buyers."</span></p>
<p><span>Another person said he was the wrong fit for the Yahoo job. This person said,&nbsp;</span><span style="line-height: 1.5em;">"If he came in and didn't have to talk to a client and hired just ex-McKinsey people and brought that kind of discipline, maybe that's the structure Yahoo needs ...&nbsp;</span><span style="line-height: 1.5em;">But this is a company that needs to sell Madison Avenue on big branding ideas."&nbsp;</span></p>
<p>At the time, our source said the De Castro hire was "literally the worst ever" because he wasn't equipped to deal with big agencies.</p>
<p>In the year he was at Yahoo, we heard murmurs of De Castro and Mayer not getting along. Kara Swisher at Re/Code reports <a href="http://recode.net/2014/01/15/henrique-de-castro-out-at-yahoo/">De Castro was fighting</a> with all of Yahoo's top executives.</p>
<p>In September, <a href="http://www.businessinsider.com/report-marissa-mayer-is-on-the-outs-with-coo-henrique-de-castro-2013-9">there was report that his ouster was imminent</a>. He was taking too long to get his sales team together, he was missing out on the rise of programmatic buying, and Yahoo's ad business remained sluggish.</p>
<p><span style="line-height: 1.5em;">We're guessing he got one last quarter to turn things around, but failed.</span></p><p><strong>SEE ALSO:&nbsp;<a href="http://www.businessinsider.com/yahoo-coo-enrique-de-castro-has-stock-bonus-pay-package-2014-1" >Yahoo's COO Walks Out With $20 Million Stock Bonus (Plus $40 Million He Got For 15 Months' Work)</a></strong></p>
<p><a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-is-out-2014-1#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/marissa-mayer-and-her-coo-joined-rival-fortune-500-boards-2013-3Marissa Mayer And Her COO Have Joined Rival Fortune 500 Boards, And It's A Very Bad Idea (YHOO)http://www.businessinsider.com/marissa-mayer-and-her-coo-joined-rival-fortune-500-boards-2013-3
Thu, 14 Mar 2013 10:45:00 -0400Nicholas Carlson
<p><img style="float:right;" src="http://static2.businessinsider.com/image/5012e9fbeab8ead96500001a-402-300/henriquedecastro.jpg" border="0" alt="Henrique De Castro, Google" /></p><p><a class="hidden_link" href="http://www.businessinsider.com/blackboard/yahoo">Yahoo</a> is in the middle of a desperate turnaround.</p>
<p>Usage of Yahoo products has stalled, and the company is about to get crushed by the mobile computing revolution unless it makes something wonderful.</p>
<p>Very few people think it can do something wonderful.</p>
<p>To address these issues, Yahoo's board, led by hedge funder Dan Loeb, has been hiring top talent from other companies in Silicon Valley.</p>
<p>First it hired ex-Googler Marissa Mayer.</p>
<p>Then it handed another <a class="hidden_link" href="http://www.businessinsider.com/blackboard/google">Google</a> executive, Henrique de Castro, a $60 million compensation package so that he would join Yahoo as COO.</p>
<p>That's a huge amount of money. We hear it's more than de Castro's old boss gets paid at Google.</p>
<p><a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-2012-10">Lots of people, especially some of de Castro's old colleagues, wondered if he was such a great hire.</a></p>
<p>But Yahoo's board thought de Castro was the right man for the job, and if he is, he's worth the money.</p>
<p>But de Castro just took on a second job.&nbsp;<a href="http://allthingsd.com/20130314/yahoo-coo-de-castro-joins-target-board/?mod=tweet"><span style="line-height: 1.5em;">He joined the board of Target.</span></a></p>
<p><span style="line-height: 1.5em;">This was a poor decision.</span></p>
<p>On the one hand, it's good for Yahoo to have a solid relationship with Target, an advertiser. And,&nbsp;<span style="line-height: 1.5em;">sitting on a board seat isn't usually a lot of work.&nbsp;</span><span style="line-height: 1.5em;">In good times, the job requires maybe a half dozen meetings a year.</span></p>
<p><span style="line-height: 1.5em;">But like Yahoo, Target is currently facing a huge consumer shift. Yahoo's is dealing with consumer moving from desktop to mobile; Target is dealing with offline to online.</span></p>
<p>Being a public-company board member during a transition period is hard work.</p>
<p>Just ask Intuit CEO <a class="hidden_link" href="http://www.businessinsider.com/blackboard/brad-smith">Brad Smith</a>, who stepped down from Yahoo's board late last year after only a year and a half in the seat. <a href="http://www.businessinsider.com/intuit-ceo-brad-smith-quit-yahoo-board-2013-2">His reason? He spent hundreds of hours on Yahoo in 2012 instead of his fulltime job. The board met 61 times!</a></p>
<p>One CEO that Yahoo CEO Marissa Mayer models herself after is <a class="hidden_link" href="http://www.businessinsider.com/blackboard/steve-jobs">Steve Jobs</a> &ndash; a product visionary with granular control over the company.</p>
<p>Well &hellip; when Jobs ran Apple, he forbade his executives from joining the boards of other companies.&nbsp;</p>
<p>He demanded focus on the job at hand.</p>
<p>Shouldn't Mayer?</p>
<p>Perhaps to do so, she needs to set an example by stepping down from Walmart's board, where she was given a seat prior to joining Yahoo.</p>
<p>Mayer and Yahoo made a lot of news the past couple weeks because the company banned working from home, arguing that it needs focus from its employees.</p>
<p>Time for a example to be to be set at the top.</p><p><a href="http://www.businessinsider.com/marissa-mayer-and-her-coo-joined-rival-fortune-500-boards-2013-3#comments">Join the conversation about this story &#187;</a></p> http://allthingsd.com/20121210/in-seismic-shift-new-coo-de-castro-shifts-yahoo-ad-sales-to-category-model-backed-by-the-marissa-halo/Henrique De Castro Plans Massive Re-Org Of Yahoo Ad Saleshttp://allthingsd.com/20121210/in-seismic-shift-new-coo-de-castro-shifts-yahoo-ad-sales-to-category-model-backed-by-the-marissa-halo/
Mon, 10 Dec 2012 14:58:02 -0500Kara Swisher
<p><a href="http://allthingsd.com/20121210/in-seismic-shift-new-coo-de-castro-shifts-yahoo-ad-sales-to-category-model-backed-by-the-marissa-halo/">Click here to read the ATD story &gt;&gt;</a></p><p><a href="http://allthingsd.com/20121210/in-seismic-shift-new-coo-de-castro-shifts-yahoo-ad-sales-to-category-model-backed-by-the-marissa-halo/#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/marissa-mayers-56-million-coo-started-this-week-heres-a-revealing-video-of-him-2012-11Marissa Mayer's $56 Million COO Started This Week: Here's A Revealing Video Of Him (YHOO)http://www.businessinsider.com/marissa-mayers-56-million-coo-started-this-week-heres-a-revealing-video-of-him-2012-11
Thu, 15 Nov 2012 10:38:00 -0500Nicholas Carlson
<p>New <a class="hidden_link" href="http://www.businessinsider.com/blackboard/yahoo">Yahoo</a> COO and ad boss Henrique De Castro started this week. <a href="http://www.businessinsider.com/henrique-de-castro-yahoo-coo-2012-10">He used to work at Google.</a></p>
<p>He's there to fix Yahoo's relationships with Madison Avenue, we're told.&nbsp;</p>
<p>To many ex-Googlers, that seems odd.</p>
<p>HdC, as his name is popularly abbreviated, is not considered a "people person" by them. <a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-2012-10">All of them.</a></p>
<p>They say he is very smart, though! So maybe he'll concentrate on the way he works with others and fix it.</p>
<p>Let's all start with an open mind, shall we?</p>
<p>Anyway, here's a long video of HdC talking that will give you a sense of his style:&nbsp;</p>
<p><object width="620" height="349"><param name="movie" value="http://www.youtube.com/v/rgKCSK0AExw?version=3&amp;hl=en_US" /><param name="allowFullScreen" value="true" /><param name="allowscriptaccess" value="always" /><embed src="http://www.youtube.com/v/rgKCSK0AExw?version=3&amp;hl=en_US" type="application/x-shockwave-flash" width="620" height="349" allowscriptaccess="always" allowfullscreen="true" title="Adobe Flash Player" /></object></p><p><a href="http://www.businessinsider.com/marissa-mayers-56-million-coo-started-this-week-heres-a-revealing-video-of-him-2012-11#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/theres-twitter-account-parodying-yahoos-controversial-62-million-coo-and-ex-googlers-say-its-hilariously-accurate-2012-10Ex-Googlers Say A Twitter Account Parodying Yahoo's Controversial $62 Million COO Is Hilariously Accurate (YHOO, GOOG)http://www.businessinsider.com/theres-twitter-account-parodying-yahoos-controversial-62-million-coo-and-ex-googlers-say-its-hilariously-accurate-2012-10
Tue, 23 Oct 2012 08:48:00 -0400Nicholas Carlson
<p><img style="float:right;" src="http://static2.businessinsider.com/image/507c8ae669bedd921e000009-400-300/henrique-de-castro.jpg" border="0" alt="Henrique de Castro" /></p><p>Ex-Google executive Henrique De Castro is Yahoo's new COO.</p>
<p><a class="hidden_link" href="http://www.businessinsider.com/blackboard/yahoo">Yahoo</a> hired him to fix its relationship with Madison Avenue, and because he is given credit by many for building Google's display advertising business and finally monetizing <a class="hidden_link" href="http://www.businessinsider.com/blackboard/youtube">YouTube</a>.</p>
<p>He is a controversial figure due <a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-2012-10">to what a former colleague called "an off-putting style,"</a>&nbsp;questions over <a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-2012-10">how much he had to do with successes he claimed at Google</a>,&nbsp;and <a href="http://www.businessinsider.com/how-yahoos-new-coo-got-his-62-million-pay-package-in-7-simple-steps-2012-10">the remarkable size of his compensation package: $62 million.</a></p>
<p>At <a class="hidden_link" href="http://www.businessinsider.com/blackboard/google">Google</a>, De Castro also had a reputation for saying strange things, perhaps because English is his second language.</p>
<p>One former colleague tells us that he frequently got his metaphors mixed up.&nbsp;</p>
<p>"There are lots of funny stories. One time, he was in front of a bunch of YouTube partners and [he told them Google was going to] 'sit on your faces."</p>
<p>Naturally, <a href="https://twitter.com/HdCYouKnowMe">there is a parody Twitter account created in De Castro's honor.</a></p>
<p>It's called&nbsp;<a href="https://twitter.com/HdCYouKnowMe"><s>@</s>HdCYouKnowMe</a>, and the bio reads: "I am Henrique de Castro, Yahoo!&rsquo;s new COO. This is my official fake account of *real* quotes collected by Googlers - lovers and haters - since 2007."</p>
<p>Some of the "real quotes" tweeted from the account are pretty awkward and surprising.</p>
<p>We emailed three former colleagues of De Castro's to ask if the account read like the man they used to work with.</p>
<p>One said, "Yes it is perfect."</p>
<p>Another: "Awesome!&nbsp; Reads right to me."</p>
<p>And finally: "Pretty much"</p>
<p>Without more ado, here are the tweets so far:</p>
<p><img src="http://static6.businessinsider.com/image/508691a56bb3f7b61d000007-564-640/hdc-01.jpg" border="0" alt="HdC 01" /></p>
<p><img src="http://static1.businessinsider.com/image/508691b3ecad04e435000029-564-640/hdc-02.jpg" border="0" alt="HdC 02" /></p>
<p><img src="http://static2.businessinsider.com/image/508691c1ecad04e73500001e-568-398/hdc-o3.jpg" border="0" alt="HdC o3" /></p><p><a href="http://www.businessinsider.com/theres-twitter-account-parodying-yahoos-controversial-62-million-coo-and-ex-googlers-say-its-hilariously-accurate-2012-10#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/how-yahoos-new-coo-got-his-62-million-pay-package-in-7-simple-steps-2012-10How Yahoo's New COO Got His $62 Million Pay Package In 7 Simple Steps (YHOO, GOOG)http://www.businessinsider.com/how-yahoos-new-coo-got-his-62-million-pay-package-in-7-simple-steps-2012-10
Mon, 22 Oct 2012 12:13:00 -0400Nicholas Carlson
<p><img style="float:right;" src="http://static3.businessinsider.com/image/5012e9fbeab8ead96500001a-402-300/henrique-de-castro-google.jpg" border="0" alt="Henrique De Castro, Google" /></p><p>Last week, new <a href="http://www.businessinsider.com/blackboard/yahoo" class="hidden_link">Yahoo</a> CEO made her first huge hire.</p>
<p>She poached ad executive Henrique De Castro from Google to be Yahoo's COO.</p>
<p>It wasn't easy convincing De Castro to join up.</p>
<p>Mayer and Yahoo's board <a href="http://www.businessinsider.com/henrique-de-castro-compensation-2012-10">agreed to pay De Castro $62 million over the next four years.</a></p>
<p>That's&hellip;</p>
<ul>
<li>$600,000 in annual salary</li>
</ul>
<ul>
<li>$540,000 a year in target bonus</li>
</ul>
<ul>
<li>$36 million in stock awards over three years</li>
</ul>
<ul>
<li>$1 million in cash within seven days</li>
</ul>
<ul>
<li>$20 million in stock over four years</li>
</ul>
<p>Those figures have a lot of people in the industry stunned.</p>
<p>One former Googler in his own high-profile job emailed us to say: "The weird thing is the amount of money he is making.&nbsp; That is criminal."</p>
<p>But the story of how De Castro's compensation got so high is actually pretty simple.</p>
<p>According to two sources familiar with the situation it happened in 7 steps:</p>
<ul>
<li>Yahoo offered De Castro a very large package, but one that was smaller than $62 million.</li>
<li>De Castro told his Google bosses about the offer.</li>
<li>Google matched the offer and created a new job for him with big new responsibilities.</li>
<li>De Castro told Yahoo that Google matched their offer and that if they couldn't do better, he was going to stay.</li>
<li>Yahoo dropped the $62 million hammer.</li>
<li>De Castro told Google about the $62 million deal.</li>
<li>Google told De Castro: Good luck at Yahoo! (We're told $62 million is more money than <a href="http://www.businessinsider.com/blackboard/nikesh-arora" class="hidden_link">Nikesh Arora</a>, Google's own revenue boss, makes.)</li>
</ul>
<p>So, is De Castro worth $62 million? <a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-2012-10">Several of his former Google colleagues say no&hellip;</a></p><p><a href="http://www.businessinsider.com/how-yahoos-new-coo-got-his-62-million-pay-package-in-7-simple-steps-2012-10#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/yahoo-sales-2012-10Yahoo's Sales Boss Doesn't Start For Another Month* (YHOO)http://www.businessinsider.com/yahoo-sales-2012-10
Wed, 17 Oct 2012 14:20:00 -0400Jay Yarow
<p><img style="float:right;" src="http://static5.businessinsider.com/image/507ef4aa69bedde874000005-620-465/marissa-mayer.jpg?maxX=370&amp;maxY=277" border="0" alt="Marissa mayer" width="370" height="277" /></p><p>Now that Yahoo's Chief Revenue Officer <a href="http://www.businessinsider.com/blackboard/michael-barrett" class="hidden_link">Michael Barrett</a> is out, the company is going to have a big hole in its operations for the next month.</p>
<p>Marissa Mayer is <a href="http://www.businessinsider.com/henrique-de-castro-yahoo-coo-2012-10">replacing Barrett with Henrique De Castro</a>, but because he's disentangling himself from <a href="http://www.businessinsider.com/blackboard/google" class="hidden_link">Google</a>, De Castro will not start at <a href="http://www.businessinsider.com/blackboard/yahoo" class="hidden_link">Yahoo</a> until next month, <a href="http://allthingsd.com/20121017/mayer-tells-ad-sales-staff-that-new-coo-de-castro-will-start-mid-november/?mod=atdtweet">Kara Swisher at All Things D reports</a>.</p>
<p>Initially, Swisher reported De Castro wouldn't start until next year. That would have been really bad for Yahoo's sales team. </p>
<p>We've heard repeatedly that <a href="http://www.businessinsider.com/yahoo-sales-people-are-adrift-and-q3-and-q4-might-be-really-ugly-because-of-it-2012-10">Yahoo's sales people are "sitting on their hands" and "adrift."</a>&nbsp; As a result of this idleness, <a href="http://www.businessinsider.com/yahoo-sales-people-are-adrift-and-q3-and-q4-might-be-really-ugly-because-of-it-2012-10">Yahoo could lose $200 million in revenue for the second half of this year</a>, and it might even flirt with being unprofitable.</p>
<p>It's a good thing De Castro will be able to start in November. The sooner he gets in and organizes the sales group the better.</p>
<p><strong>Update:</strong> This story originally said De Castro might not start until next year. Since news broke that he starts next month we updated the story.</p>
<p><strong>Don't Miss: <a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-2012-10">Did Marissa Mayer Make A Horrible Mistake Hiring Henrique De Castro?</a></strong></p><p><a href="http://www.businessinsider.com/yahoo-sales-2012-10#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/yahoo-coo-henrique-de-castro-2012-10Did Marissa Mayer Just Make A Horrible Mistake? Several Ex-Googlers Think So (GOOG, YHOO)http://www.businessinsider.com/yahoo-coo-henrique-de-castro-2012-10
Tue, 16 Oct 2012 13:22:00 -0400Nicholas Carlson
<p><img style="float:right;" src="http://static6.businessinsider.com/image/507d944eeab8ea530e000005-608-456/marissa-mayer-and-henrique-de-castro.jpg?maxX=400" border="0" alt="Marissa Mayer and Henrique De Castro" width="400" /></p><p><a href="http://www.businessinsider.com/blackboard/yahoo" class="hidden_link">Yahoo</a> CEO Marissa Mayer made a big hire yesterday, bringing in her former <a href="http://www.businessinsider.com/blackboard/google" class="hidden_link">Google</a> colleague Henrique De Castro as COO.</p>
<p>De Castro doesn't come cheap.&nbsp;Mayer and Yahoo had to agree to pay him $62 million over four years to get him to leave Google, where De Castro was a loyal and well-paid lieutenant to <a href="http://www.businessinsider.com/blackboard/nikesh-arora" class="hidden_link">Nikesh Arora</a>, Google's revenue boss.</p>
<p>De Castro's job will be to fix Yahoo's relationship with big ad agencies and other buyers of display advertising. Mayer selected him because she believes he is responsible for two major feats at Google: 1. building Google's display advertising business from zero to billions of dollars in revenue, and 2. building brand advertising into <a href="http://www.businessinsider.com/blackboard/youtube" class="hidden_link">YouTube</a>.</p>
<p>So, is he worth the money?&nbsp;</p>
<p>Two ex-Googlers we spoke to gave us a mixed, but overall positive view of De Castro and his work at Google.</p>
<p style="padding-left: 30px;"><span>"I personally like him, but most others think he is too academic and a douche," says this source.&nbsp;<span>"He's pretty effective at some things, and breaks down complex problems logically."</span></span></p>
<p><span><span>Another told us:</span></span></p>
<p class="p1" style="padding-left: 30px;">He is a McKinsey guy so has a lot of that discipline behind him. He also is the protege of Nikesh Arora who is widely regarded at Google as being a great business executive (despite not being a popular executive).&nbsp;</p>
<p class="p1" style="padding-left: 30px;">I think Marissa gets in Henrique the discipline of the best of the best from McKinsey and how Nikesh approaches things.</p>
<p class="p1" style="padding-left: 30px;">People say De Castro is smart as a whip and knows how to structure and run businesses at scale.&nbsp; He gets things done.&nbsp;</p>
<p class="p1" style="padding-left: 30px;">My understanding is that he is not well-liked by people under him.&nbsp;</p>
<p class="p1" style="padding-left: 30px;">I do believe he was tasked with running the display business for the company and that it did well.&nbsp; But keep in mind at Google, the business owner does not also own product and eng.&nbsp; So it is matrixed leadership.&nbsp;</p>
<p class="p1" style="padding-left: 30px;">So on one hand he is responsible for those feats, but not completely responsible.&nbsp;</p>
<p class="p1" style="padding-left: 30px;">It helps that Google bought some great companies like <a href="http://www.businessinsider.com/blackboard/doubleclick-1" class="hidden_link">DoubleClick</a> and YouTube and has amazingly talented product and engineering leadership to create a moat.&nbsp;</p>
<p class="p1" style="padding-left: 30px;">Henrique was primarily tasked with monetizing that stuff and I think he is regarded to have done a great job doing that.&nbsp; Even his detractors admit he is effective, but note he has an off-putting style (which may be due to English is not his first language)</p>
<p><strong>The rest of the people we spoke to, about a half-dozen veterans of Google's ad business, were genuinely surprised Mayer hired De Castro into this role.</strong></p>
<p>While all agreed that De Castro is "smart," these ex-Googlers believe Mayer made a serious mistake hiring De Castro to be Yahoo's front man on Madison Avenue.</p>
<p>In contrast to Mayer's view &ndash;&nbsp;<span>that De Castro built Google's display advertising business and then saved YouTube &ndash; these sources view his tenure at Google as a very different narrative.</span></p>
<p><span>In their narrative,&nbsp;</span>Henrique De Castro got a shot at a big job at Google and he blew it.</p>
<p>When Google ad sales boss <a href="http://www.businessinsider.com/blackboard/tim-armstrong" class="hidden_link">Tim Armstrong</a> left to become CEO of <a href="http://www.businessinsider.com/blackboard/aol" class="hidden_link">AOL</a> in 2009, Google CEO <a href="http://www.businessinsider.com/blackboard/eric-schmidt" class="hidden_link">Eric Schmidt</a> sought an equally charming and presentable replacement. He settled on De Castro.</p>
<p>De Castro's biggest move &ndash; and biggest mistake &ndash; was hiring Barry Salzman as the head of Google's display advertising business.&nbsp;Salzman didn't take, and he's now out of the industry, working as a professional photographer.</p>
<p>And so, a&nbsp;little more than a year after moving him into Tim Armstrong's job, Google moved De Castro into a new position:&nbsp;president of&nbsp;"Global Media, Mobile &amp; Platforms." &nbsp;One ex-Googler described this job's responsibilities as "kind of miscellaneous."</p>
<p><img style="float:right;" src="http://static4.businessinsider.com/image/4f466b5beab8ea9b52000015-300-256/the-most-interesting-man-in-the-world-dos-equis.jpg" border="0" alt="The Most Interesting Man In The World Dos Equis" />In this narrative, the reason De Castro did not do well as Google's top display ad man was his "difficult personality." They say he is "charming" but in a decidedly self-serving way.</p>
<p>"He's a very charming guy," says another ex-Googler. "People say he's an asshole, and well yeah kind of. But a totally lovable asshole.&nbsp;&nbsp;It's hard to meet him and not be attracted to him in some way."</p>
<p>This source says "Henrique wants to be&nbsp;The Most Interesting Man In The World from those Dos Equis commercials."</p>
<p>"That accent. He works at it."</p>
<p>Another source, a ex-senior Googler, summed up the view of others: "[Henrique]<span>&nbsp;is very smart, but he has a difficult personality; both his teams and his clients dislike him."</span></p>
<p><span><span>"He has no experience whatsoever running any kind of a real ad salesforce, let alone a 1,000+ team selling experiential media into brand buyers."</span></span></p>
<p>"Google should pay Yahoo to take him."</p>
<p>One ex-Googler told us that Mayer may have been smart to hire De Castro, but that she hired him for the wrong job.&nbsp;</p>
<p>"If he came in and didn't have to talk to a client and hired just ex-McKinsey people and brought that kind of discipline, maybe that's the structure Yahoo needs. Maybe they need help with the operations and streamlining."</p>
<p>"But this is a company that needs to sell Madison Avenue on big branding ideas."&nbsp;</p>
<p>For that job, says this source, the De Castro hire "is literally the worst ever."</p>
<p>If you want to know what kind of guy De Castro is, a source says you should watch his interaction with <a href="http://www.businessinsider.com/blackboard/apple" class="hidden_link">Apple</a> CEO <a href="http://www.businessinsider.com/blackboard/tim-cook" class="hidden_link">Tim Cook</a> during this All Things D video. It's from the Q&amp;A portion of Tim Cook's appearance at the ATD conference earlier this year. De Castro asks a question &nbsp;at 1:34:30.&nbsp;</p>
<p><iframe width="512" height="288" frameborder="0" src="http://live.wsj.com/public/page/embed-1311284B_C176_49F2_AED8_DF55C6EDF16A.html"></iframe></p>
<p>&nbsp;</p>
<script src="http://player.ooyala.com/v3/YmIxZjUyM2JmZGM4YTFjMmVmNTcwNWY5" type="text/javascript"></script>
<div id="ooyalaplayer" style="width: 618px; height: 347px;">&nbsp;</div>
<script type="text/javascript">// <![CDATA[
OO.ready(function() { OO.Player.create('ooyalaplayer', 'kwa3g1Njp1_Fy-akfSyMlbFpFsVwfLad'); });
// ]]></script>
<noscript><div>Please enable Javascript to watch this video</div></noscript><p><a href="http://www.businessinsider.com/yahoo-coo-henrique-de-castro-2012-10#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/henrique-de-castro-compensation-2012-10Yahoo Will Spend $62 Million On Its COO (YHOO)http://www.businessinsider.com/henrique-de-castro-compensation-2012-10
Mon, 15 Oct 2012 18:17:00 -0400Owen Thomas
<p><img style="float:right;" src="https://www.businessinsider.com/image/507c8ae669bedd921e000009-400-300/henrique-de-castro.jpg?maxX=400&amp;maxY=300" border="0" alt="Henrique de Castro" width="400" height="300" /></p><p>As Yahoo's CEO, Marissa Mayer is spending a massive amount to pry her former colleague, Henrique de Castro, <a href="http://www.businessinsider.com/henrique-de-castro-yahoo-coo-2012-10">away from Google and install him as COO</a>.</p>
<p>According to our reading of de Castro's employment letter, which <a href="http://edgar.sec.gov/Archives/edgar/data/1011006/000119312512423560/d424127dex101.htm">Yahoo just filed with the SEC</a>, the total over four years comes to about $62 million&mdash;not counting new annual stock grants.</p>
<p>That's about <a href="http://www.businessinsider.com/yahoos-new-ceo-marissa-mayer-will-make-1-million-this-year-15-million-over-5-years-2012-7">half the total that Mayer could rake in as CEO</a>&nbsp;over a similar period.</p>
<p>Here's how it breaks down:</p>
<ul>
<li>$600,000 in annual salary</li>
</ul>
<ul>
<li>$540,000 a year in target bonus</li>
</ul>
<ul>
<li>$36 million in stock awards over three years</li>
</ul>
<ul>
<li>$1 million in cash within seven days</li>
</ul>
<ul>
<li>$20 million in stock over four years</li>
</ul>
<p>Here's an interesting twist: According to the offer letter, de Castro must start within three months and one week&mdash;or sooner, if <a href="http://www.businessinsider.com/blackboard/google" class="hidden_link">Google</a> relieves him of his "employment obligation."</p>
<p>He also will begin work in London, transferring to Yahoo's Sunnyvale headquarters after a work visa is arranged.</p>
<p>That suggests that de Castro has some kind of contractual obligation to Google tied to his work permit.</p><p><a href="http://www.businessinsider.com/henrique-de-castro-compensation-2012-10#comments">Join the conversation about this story &#187;</a></p> http://www.businessinsider.com/henrique-de-castro-yahoo-coo-2012-10Marissa Mayer Hires A Top Googler As Yahoo's COO (YHOO, GOOG)http://www.businessinsider.com/henrique-de-castro-yahoo-coo-2012-10
Mon, 15 Oct 2012 17:41:00 -0400Owen Thomas
<p><img style="float:right;" src="http://static3.businessinsider.com/image/5012e9fbeab8ead96500001a-402-300/henrique-de-castro-google.jpg?maxX=402&amp;maxY=300" border="0" alt="Henrique De Castro, Google" width="402" height="300" /></p><p>Marissa Mayer has hired top Googler sales executive Henrique de Castro as her COO, <a href="http://www.businessinsider.com/blackboard/yahoo" class="hidden_link">Yahoo</a> <a href="http://ycorpblog.com/2012/10/15/henrique-de-castro-to-join-yahoo-as-chief-operating-officer/">just confirmed</a>.</p>
<p>Mayer <a href="http://www.businesswire.com/news/home/20121015006759/en">made the announcement</a> as she apparently wrapped up a brief maternity leave, on her "first full day back in the office," she <a href="https://twitter.com/marissamayer/statuses/257958183476285440">wrote on Twitter</a>.</p>
<p>AllThingsD's Kara Swisher <a href="http://allthingsd.com/20121015/can-she-land-a-big-one-yahoos-mayer-about-to-hook-google-sales-exec-de-castro-for-top-ad-role/?mod=atdtweet">earlier reported</a> that de Castro's&nbsp;<a href="http://www.businessinsider.com/henrique-de-castro-recruited-by-marissa-mayer-2012-10">hire was likely</a>.</p>
<p>De Castro ran a large part of Google's worldwide advertising business as vice president for partner business solutions.</p>
<p>He's expected to take a similar role at Yahoo, which raises questions about the future of Yahoo's chief revenue officer, <a href="http://www.businessinsider.com/blackboard/michael-barrett" class="hidden_link">Michael Barrett</a>.</p>
<p>Within Google and the Internet industry, de Castro has <a href="http://www.businessinsider.com/rumor-has-it-this-googler-will-be-marissa-mayers-first-big-hire-at-yahoo-2012-7">something of a mixed reputation</a>. Some call him "super smart"; others say he's a "complete a**hole" and that "his teams don't love him."</p>
<p>Of course, Mayer herself has a <a href="http://www.businessinsider.com/the-truth-about-marissa-mayer-she-has-two-contrasting-reputations-2012-7">reputation for an unforgiving management style</a>.</p>
<p>One of the best illustrations of de Castro's brashness was the moment at this year's D: All Things Digital conference when he quizzed <a href="http://www.businessinsider.com/blackboard/apple" class="hidden_link">Apple</a> CEO <a href="http://www.businessinsider.com/blackboard/tim-cook" class="hidden_link">Tim Cook</a> on the state of his company's online-advertising business.</p>
<p>Here's that video:</p>
<p><iframe width="512" height="288" frameborder="0" src="http://live.wsj.com/public/page/embed-1311284B_C176_49F2_AED8_DF55C6EDF16A.html"></iframe></p><p><a href="http://www.businessinsider.com/henrique-de-castro-yahoo-coo-2012-10#comments">Join the conversation about this story &#187;</a></p>